AUSTIN--Home2 Suites by Hilton has opened its 50th hotel in less than five years.

The company has tapped the Domain submarket for the debut of its latest hotel, which is marketed to modern business travelers and extended-stay guests.

“Opening the Home2 Suites Austin North is an incredible brand milestone,” Bill Duncan, global head for Home2 Suites by Hilton, told GlobeSt.com. “Reaching 50 properties in less than five years has made Home2 Suites one of the fastest-growing in the history of Hilton Worldwide.”

Since opening its first hotel in 2011, the brand has shown growth; last year alone, it grew its rooms' pipeline by 67 percent and now has nearly 200 hotels in its property pipeline and another 30 locations scheduled to open by the close of 2015.

Home2 Suites' portfolio expansion into Austin, which brings 135 new hotel rooms to Texas, comes on the heels of a major spike in demand for the extended-stay hotel product. According to the Highland Group's “Report on the US Extended Stay Lodging Market,” occupancy rates for the segment are at their highest levels in 13 years. 

Owned by Esperanza Hospitality LLC, Home2 Suites Austin North/Near the Domain is part of a continued trend of Home2 Suites expanding throughout the area, as the brand is expected to more than double its number of properties in Texas by the end of 2015.

According to Duncan, the growth is “a testament to Home2's flexible and innovative building models that allow developers to build efficiently.”